Here is a list of the top countries in terms of gold reserves as of April 2020. The United States is the world’s largest holder of gold with 8,134 tons. Germany has the second largest gold reserves. Central banks are the main buyers of gold with net purchases of approximately 650 metric tons in 2019. Central bank of Turkey and Central bank of Russia bought 159 tons and 158 tons, respectively, of the yellow metal in 2019. Other big buyers were Poland, China, Kazakhstan, India, Ecuador, Serbia and Qatar. Overall the central banks hold about 34,700 tons of gold. Venezuela is one of the world’s largest sellers of gold. The country’s gold reserves decreased from nearly 370 tons in 2015 to 161 tons in 2020. At a price of $1,628 per troy ounce as of March 27, 2020, one metric ton of gold has a value of approximately $52.3 million.

Rank Country Metric Tons Gold's Share of FX Reserves
1 United States 8 133.5 77.9%
2 Germany 3 366.5 74.0%
3 Italy 2 451.8 69.3%
4 France 2 436.0 63.6%
5 Russian Federation 2 279.2 20.6%
6 China 1 948.3 3.1%
7 Switzerland 1 040.0 6.2%
8 Japan 765.2 2.9%
9 India 635.0 7.0%
10 Netherlands 612.5 70.2%
11 Turkey 428.7 21.8%
12 Taiwan 422.4 4.3%
13 Kazakhstan 386.5 67.1%
14 Portugal 382.5 76.8%
15 Uzbekistan 333.7 56.7%
16 Saudi Arabia 323.1 3.2%
17 United Kingdom 310.3 9.3%
18 Lebanon 286.8 27.3%
19 Spain 281.6 19.1%
20 Austria 280.0 56.1%
21 Poland 228.6 9.3%
22 Belgium 227.4 39.5%
23 Philippines 197.9 11.2%
24 Algeria 173.6 11.6%
25 Venezuela 161.2 81.0%
26 Thailand 154.0 3.4%
27 Singapore 127.4 2.3%
28 Sweden 125.7 11.5%
29 South Africa 125.3 11.7%
30 Mexico 120.0 3.2%
31 Libya 116.6 7.0%
32 Greece 113.6 68.8%
33 Republic of Korea 104.4 1.3%
34 Romania 103.6 12.5%
35 Iraq 96.3 7.1%
36 Australia 79.9 8.1%
37 Egypt 79.3 9.0%
38 Kuwait 79.0 9.2%
39 Indonesia 78.6 3.1%
40 Brazil 67.4 1.0%
41 Denmark 66.5 5.1%
42 Pakistan 64.6 18.9%
43 Argentina 61.7 7.0%
44 Finland 49.1 22.0%
45 Belarus 48.9 26.6%
46 Jordan 43.5 14.6%
47 Bolivia 42.5 33.1%
48 Qatar 40.6 5.2%
49 Bulgaria 40.5 7.6%
50 Malaysia 38.9 1.9%